China is spending its Reserves Building Strategic Infrastructures Jim Rogers

[felpaluche]

He is right.

[ProtestantsRUs]

I think he explained it very well. China is going to be so strong in the next few years, even now fantastic economy.

[Cyrus255]

Jim Rogers, right on as always. Spending when you don't need to, incentivizes the production of goods we don't need. This is a separate form of inflation and BAD for the economy. People should spend on capital investments, until we can produce the goods we want for less.

[Ethioness]

DId he say he would by more in 30 years?

[darthvader5300]

And I will create a non-central banking institution to remove all forms of Central Banking by creating a government owned and controlled non-monetary credit creation national government publicly owned bank for the real physical economiy and human resource investments in the physical economy, schools, hospitals and clinics, libraries, all forms of public utilities, create a regulated public utlitities-based pension system to prevent abuse by unethical business corporate practices,

[darthvader5300]

As to infrastructures and technostructures, I will concentrate on expanng and improving all infrastructures and technostructures but to design them to last almost indefintely and in key public utilities like nuclear power plants like the BREST reactors and industrial atmospheric water generators, recycling cloose-loop industrial-agricultural infra-technostructures, environmental and waste handling-recycling technostructures to recycle sewage and pollution into drinkable water and raw materials

[darthvader5300]

If I were the prime minister of China I would do two things simultaneously. 1st to use foreign dollar reserves to purchase key strategic industrial commodities to transform (depreciating) US dollars into tangible hard physical assets like metal ingots like chronium, molybdenum, tungsten, nickel, cobalt, titanium, rare earths, phosphate rock, potash, iron & steel ingots, cotton, linen, oil etc. And in the machine tool industries for machinet tools reproduce themselves and all kinds of factories.

[kmarinas86]

China is not controlled by corporations. China IS a corporation.

[jayangli]

do you agree with the ass. yeah u got a great ass

[darthvader5300]

complex then it can practically use all of the surrounding rocks and soils and clays around it as it's primary ore and not become dependent on naturally concentrated deposits. That threatens the natural resource based dependent vested political economic interest's position in the geopolitical and socio- economic power structure. Remember, Carlin Mines mined and processed more than 4,000 tons of ore to profitably extract 50 pounds of gold, what more with 100 tons of granite and it's metals inside

[darthvader5300]

The only problem is that there are vested interests against the suggestion of Harrison Brown on extracting these metals and nuclear fuels from ordinary rocks, granite as one of them, because they want us to remain dependent on their naturally concentrated and accessible natural resources which forms the base of their control over mankind. But when the Harrison Brown suggestion becomes a reality and a profitable one at that then an existing vertically integrated heavy enginnering (continue next)

[virtuous8]

the girl is hot, is she jewish?

[darthvader5300]

We will never run out of natural resources because it is only the costs of accessibility that creates a false scarcity.

As the richer and easily accessible natural resources runs out, then we will have to concentrate on leaner ores, deeper oil deposits, grow our food indoors vertically, etc and that temporarily increases costs but as close-loop life-support ecosystems and atomic power becomes predominant they'll become so cheap that scarcity will cease to exists. So invest in these projects now

[IveGotTheNuts]

Everything on this planet is FINITE except garbage. Simple

[darthvader5300]

In 1974, it requires 5,172.41 plus tons of gold ore from the Nevada Carlin mine ore deposits to produce 50 pounds of gold and at a profit so what's stopping China and the whole world from developing the technology to extract all kinds of metals from ordinary rock. Scarcity is actually costs of accessibility of natural resources, as the richer and more concentrated resources are used up we go to leaner ores and atomic power can make it profitable, especially when using breeder reactors.

[darthvader5300]

China's natural resource needs can be easily met for every 100 hundred tons of granite rock can produce: 1. 8 tons of aluminum. 2. 5 tons of iron. 3. 1,200 pounds of titanium. 4. 180 pounds of manganese. 5. 70 pounds of chromium. 6. 40 pounds of nickel. 7. 30 pounds of vanadium. 8. 20 pounds of copper. 9. 10 pounds of tungsten. 10. 4 pounds of lead. 11. 2.64 pounds of thorium (1,200 grams or 1.2 kilograms). 12. .88 pounds of uranium (400 grams or .4 kilogram).

[darthvader5300]

China needs to use it's vast scientific and engineering human resources to develop the close-loop life-support technologies so as to expand it's life-support capacity and help clean up it's environment while investing in infra-technostructures that can sustain both human life and human industrial activities

that can make wise use of natural resources and make sure that everything is built to last as to render all industrial assets reusable and recyclable in the long term & build nuclear power

[darthvader5300]

All stimulus must go to the real physical-economy based on real things and not on speculative financial papers backed by psychological lying swindles which the present Obama administration is promoting. You save and invest your savings in the real physical-economy that produces things, that manufactures all kinds of manufactured goods, in life-supporting infra-technostructures to support both people & industry which in turn will re-invest in infra-technostructures. Channel money in real economy

[RvNYC]

Agreed. A useful stimulus should go to roads, bridges, and ports. Increase the strategic oil reserves.

Unlikely to happen though.

[GoldSilver588]

He's always been a straight-up talker. People need to listen to this guy who has almost always been dead right.

[hiromiao]

MAn I should quit my accounting job and buy some land and become a farmer in china.

I hate accounting anyways

[magics619]

The news achor wasn't even born when Jim Rogers invested in China for the first time. 1988??

[mustfarhan]

I predict forex 100% accurately.. watch my previous videos to believe.. subscribe to my channel to get the videos, please rate and comment.,. do refresh comment page of trade of the day as i add many short trades in comments,, if you will be late you will miss the trade..

Best of luck!

[vinny1010]

Chinese not spending b/c their scared and that they should listen to Geithner and Clinton -- haha, what load of bullshit!!

They save because they are smart; They save because they aren't fooled by advertisements that lure them to spending.

Invest iin Gold and Silver and Asia if you have more $

[andyly0071]

Jim says the water system could earn money, that s soooooooo true, some foreign investors like the frenches are rising water price, and also rising the concerns on the foreign investment

[whereismybailouttv]

The bubble in the Chinese market will burst eventually. When it does, the Bank of China will be forced to act. Do they dump more dollars? Bond value is going down. The buy-gold-now rally is emotion driven. If the Chinese dump all of their dollars, the States economy is finished. What do you do?

[Paolo7219]

The US is a 'corporatocracy'. The Congress and to an extent the Executive branch is fully under the control of the Big Money corporate interests. Sounds Marxist, but it's true. Note the power of the Health insurance/ Big Pharma lobby. US healthcare is a disaster yet no reform. You can see who holds the REAL power in the US.

[amotisi8859]

State run IPO in China will lead to a middle class that will borrow, and burn thru captial.

[MrEasyLife]

As an American, it is sad to me that our government is so screwed up. Anyone who listens to this interview would have a hard time arguing with Jim Rogers' comments. Contrast those comments with the comments made by Obama, Geitner, and Bernanke. I can't believe that I have 40% of my assets in foreign securities. My recurring question is whether I should have more of my assets in non-U.S. assets!! The U.S. is a socialist regime. It is absolutely scary to anyone with assets. We are doomed.

[Lingerfoot]

I wish Jim Rogers woud write another book in addition to his first awesome book on China.

[whereismybailouttv]

Congress could care less about us having the single payer plan that they do. Literally, they don't give a s**t if we lose our coverage or even die from not having it. ALL THAT MATTERS is money and power. In that sense, Obama's a huge disappointment.

If you still think Obama's the Cool Guy That Will Save Us All, post billions of comments here. Prove that I'm wrong.

[stealthswimmer]

WEll I don't like Obama, but fact is that a single payer program is not the answer and would probably be worse than what we currently have.

[whereismybailouttv]

Part of the problem is that the business MSM will NEVER tell the truth. Obama ran on the I'll-change-everything mantra. And what's happened? No change.

His key economc people are responsible for the global meltdown. He's appointed the psycho general that ran Cheney's secret hit squad to run operations in Afghanistan. And, now the Democrats and neocons have made a secret deal to gurantee billions more for the drug/insurance lobby.

[im1greatman]

I'm an American and love everything about China.

I do think that they could treat their people better but other than that it's a wonderful country!

[justgetsome]

You should move to China you probably would do very well there. I don't see good thing for America in the future. All you have is the dollar and when that goes...it's done. You should sell everything and go while the dollar is good.

[Lingerfoot]

What do you see for America in the future?

[justgetsome]

I don't see a good future. America really needs to re-invent itself. You just can't borrow into oblivion; that's the country and the people alike. The once great manu-base that you had is now gone, it's been replaced with strip-malls and a service economy.

You really need to get back to making thing. That will be a difficult process but a necessary one. China will only hold on so long, probably swapping their dollars for oil and precious metals. When that happens America is dead.

[justgetsome]

Also you sound like a smart guy. You really should look at emigration to somewhere else. I truly advise you before it's too late. Get out of the dollar, if that means selling your house(if you can) and moving money off shore or in other currencies than do it. leave little to nothing in US denominations, it will go south just like your first dollar; the Continental. France did the same thing with the Assignat in the late 1700s. It was used to finance the french revolution but we are off topic.

[Lingerfoot]

Most Americans are too arrogant and full of pride, too know that anything is wrong. What about The North American Union and The Amero?

[justgetsome]

I think thats about right. 'Just keep your head down and keep eating grass'...that's a J.Rense quote of a few days ago and it really reigns true.

The average American thinks he/she is free but that is so far from the truth. People are all ready slaves to debt. How can they uprise when they are barely holding themselves?

People will not rebel until they truly have lost it. I mean the job, savings,furniture, family heirlooms,car, insurance(health/other) and finally their sanity.

[justgetsome]

As for the NAU and the Amero, I wouldn't put anything past the powers that be. I don't think Canadians would go for it but they are sheeple as well. I'm canadian and discusted at the amount of debt that the average kanuck holds. We as a people couldn't buy a toaster unless we charged it to a credit card. People are too far gone and like I said in the previous post just trying to hold onto things that they didn't really need and couldn't really afford; To me that's the definition of insanity.

[KingDrudge]

I have been called unpatriotic for learning Chinese, so I know the type of Americans you are talking about. These are the same fellow Americans who think Bush was a great president. Well, when the Chinese stop buying T-bills, I hope these same Americans know how to say "Would you like fries with that" in Chinese.

[KingDrudge]

Americans like myself who cant leave the country due too family obligations can only do what you have just described.

Even after taking Chinese in college, I am still studying it. Any American who wants to have a decent job in a few years better start. I got my Singapore & Hong Kong stocks, my Chinese dictionary, gold, & silver to help me thorugh this rough patch of history.

[justgetsome]

I hope that your family obligations with be corrected and you can follow your own path. It's noble of you to remain and do whatever it is you do for your family.

With that said i hope you can get the hell out and come east. I live in South Korea and have for 13years. I knew years ago after looking at a halfed pay check in Canada that I wasn't going to make it there. We do ok and it's like the wild west overhere, you can make thing happen in Asia. The west? too much gov't bullshit.

[KingDrudge]

Good for you, besides family I am fully employed and happen to like my job...probably one of the few recent college grads who has one.

I can only imagine what its live over in SK...Seoul, Busan, Daegu...all those nice Korean women and the nice food...im a sucker for samgyepsal & soju.

My boss Peter Schiff says alot of young Americans like me are gonna get fed up and just leave the country due to lack of employment. Asia is the future..continue to enjoy your life in South Korea.

[justgetsome]

You work for the great Peter Schiff? That is awesome!

I live in Busan. Soju? hahah!! The cheapest nastiest sweet potato vodka on the planet. Yes, I like it as well.

I was actually eating yookhwai(raw beef) last night and downed a bottle or two.

Peter is correct. Many young people are just going to get fed up and leave. Korea is a good destination but the US dollar is still too high. It is currently losing value but not enough to drive Americans to come here and for the most part teach

[justgetsome]

English. If the dollar does tank though and fall to the range of under $1=900w then I can see a mass exodus happening to destinations in Asia. Not only Korea but China and even Japan if one is lucky enough to get decent job there. The only thing that will save me from Americans with advanced degrees here is the visa process. The fact that most good jobs want people with 3years in country and married to a Korean national. That alone gives me an advantage over nubies armed with PhDs.

[KingDrudge]

Thanks, its a blessing working for someone who calls it likes he sees it and knew that the shit was gonna hit fan a looooong time ago.

I will miss him greatly should he become US Senator Schiff.

[KingDrudge]

Ni hui shuo Zhongwen ma

[im1greatman]

No, but I can use a translation program for online usage.

[brianpez]

Globalization =creditor banking nation(U.S.,Europe England) "developed countries"Getting acess to cheap money to buy products from cheap labor countries (China, India developing countries,etc) using raw materials from raw material producing nations like brazil russia etc. in a way to raise people standard of living and out of the dark ages. We are at the point where our standard of living will come down theirs will rise and ultimately eventually find a world equalibrium point and rise together

[kja5]

Chinese people are stealing secrets from the US...? What!? That sounds like baseless closet racism to me. China is doing better than us because they have been selling useless garbage to us, and intelligently reinvesting their profits. We have just been wasting our money on useless garbage. This has been happening for 20+ years and it is finally coming to a head.

[vasiliosrigos]

Agreed . remember when we got those six hundred dollar rebates under bush, we borrowed the three hundred billion from China and we spent it on chinese imports. Incredible. Wait till China calls in there trillion dollars we owe them. The fall of the once almighty dollarimminent. No one should be fooled , they hate their own people ,imagine how much they hate americans.

[gotchaf4i]

How sure are you that China "hates" there own people, and how sure are you that China "hates" Americans? Did you ask all 1.3 billion of them, I've notice certain types of people always have to bring up "hate" as a reason, as if your entire life consist of "hating" someone, or being "hated" upon. People who brings up hate are usually full of hate themselves.

[BlueTunisia]

China is a great example of the power of free trade. In the 80's, with Deng Xiao Ping's opening of China to the western world, China was forced (a good thing) to work harder and show the world it could compete. To think, China is producing MRI machines for the US, now! Unbelievable! China is the success story of the 20th and 21th century!

[BlueTunisia]

Listen how the mainstream media forms and twists the American viewers mind.

"How can China and America improve relations?" What? We are all good. It's the governments that are at odds. Is the American media ALWAYS promoting war???

[ulleule]

hillary cliton tells china to spend more hahaha... what a joke.

[EV3260]

this guy talks a big game. at the end of the day he is just another carpetbagger who thinks is high level. no different that the oldest profession.

[sharinganclan213]

its asia's time to shine. china will own the US in a few years. thas why obama is try suck on hu jintao's dick by giving a pseech.

[BlueTunisia]

Hu Jin Tao wasn't aware of the dick sucking part. (Hey, look a new loan just came in from China!)

Wait...

[HonYi]

the host is bitch

[whereismybailouttv]

He has a point about Geithner and Clinton lecturing the Chinese. Do you really want to do that to your banker?

[whereismybailouttv]

Nice to see that Bloomberg is smart enough to put him on-air. Looks like they ran this in the daytime (in the States)?

[DillonX]

I must add that it looks like China is spending a massive amount of money on warehouses in my area here in the USA.

[murrchops]

I think she fancies him.

[Ishpeck]

"I prefer to buy after things are collapsed."

Does it occur to anyone that Jim Rogers does by himself a better job of helping economies recover from collapse than the Federal Reserve does.

He buys from collapsed markets, pumping in new capital, and profits from the increased productivity. IMF wishes they were that good.

[soundmoneyfan]

haha, for our strategic interest we put bases in countries and can't pay for it, so we borrow money from China to pay for it. Now Chian is using our money to buy the strategic interest we wanted, oh the irony.

[Elbottoo]

I think there is a lot of misconception in the world. When the world saw China's slower growth last year and the beginning this year, they thought China is in recession. Thats only partly true.

China's economy consists of many different industries. Some industries in China grow 20% EVERY YEAR. Thats what Rogers called "booming". Those industries will continue to grow like that no matter what happens in the rest of the world (like the coming recession). China is the future.

[lustdog]

Jim is so colorful. I think J.Rogers should run "mad money' rather than that Cramer guy.

[NiScontex]

poor ants in peking

[ntlfr8]

Doesn't China now own America?

[Dragolaa]

A huge chunk of it, yes.

[WayAboveYou700]

The Banksters do, so who is worst?

[Trox118]

@ntlfr8 They actually hold less T securities than Japan does... so no they dont own us.

[Tasadaru]

One of the very few finance networks that do a good job. CNBC is a joke.

[gazoorap]

tys jim i guess the chinese

who have been starving under communism for 50 years

want to keep there money for food

seeing there grandparents starve to death

and here come the americans

who hire them for 2 cents a day

to build garbage tvs etc

and tell them by crap so you can be like us .a bunch of losers with no money

just ink and paper.

talk about propaganda

[frontier1701]

On June 24 2009, Margaret Brennan left CNBC to join Bloomberg television to anchor the 10 a.m. hour.

[SilencerRPMs]

who is that hot chick?

[gilbertl2000]

I don't know why people gave you thumbs down, I was wondering the same thing. And I was still listening to the conversation.

[prickett233]

no bow tie today jim?

[poweroftheglory]

I believe China is preparing for War.

[prickett233]

yes, to defend itself from america

[chop98]

Maybe part of the theoretical WW3 rumors?

[pmarie2003]

3:58 I wonder if there will ever come a time when they decide to come over here and take the natural resources they don't have.

[lustdog]

As a matter of fact, they ARE doing it. The chinese has been buying resources and resource companies here in Canada since 2006 or earlier. And they've been buying from South America and Australia too. Of course not to mention Africa and middle east.

[blackghost10sg]

with whom?

[LenovoFightsPoverty]

The most stupid you can think is that they want war, the economy of China will grow faster when there's peace, and they know that.

[Rationalific]

China's population is 4 times the U.S.'s and 18 times France's.

The U.S.'s military spending: $713 billion

China's military spending: $70 billion

France's military spending: $68 billion

World total military spending: $1,470 billion

So, the U.S. comprises half the world's military spending, and China's military spending is about the same as France's, although its population is 18 times as large.

Conclusion: China is preparing for war.

[AndyMH182]

wjot?

[Lanparth]

And clearly so is France! :O

[vsaldanas]

to rationalific: after 999 billion comes one trillion. you mean 1.470 TRILLION

[Rationalific]

@vsaldanas: My reason for using "$1,470 billion" was to appease the retards. Have you ever seen a chart that has numbers, and on the chart, it says "in billions". So that is what I was going for.

By the way, if you think I was serious, you need to take a "sarcasm recognition" pill.

[Elbottoo]

If it was sarcastic comment, then you should have made it appear sarcastic instead of just writing something down. Because other people cant read your fking mind, you stupid donkey.

Fyi there is no such thing as a sarcasm recognition pill. The bottomline is that it is YOUR frikkin comment and that you should make it clear what you meant by it, donkey.

[Rationalific]

@Elbottoo: Let's review, shall we?

I note that China's military spending is only 1/40th as much as America's (per capita) and about only 1/18th as high as France's.

Then, I conclude that "China is preparing for war."

It's as easy to figure out as me saying, "Elbottoo read all this and he thought I was being serious. Conclusion: Elbottoo is a genius!"

Yeah, you're a genius, buddy. Believe what you want...

[DNATS]

Are u afraid? The U.S and France are already in wars, affect millions of Middle Easterners? Where's the justification in your opinion?

[Elbottoo]

Youre a retard. The US has 10 times as high as military spending! And they are protecting less people with it? What do you NEED ALL THAT SHIAT FOR? China has 4 times more people to protect!?

In fact, Japan, which doesnt even have a military officially, has military spending thats FOUR TIMES AS MUCH AS CHINA'S. WHAT DO THEY NEED THAT FOR WHEN THEY SAY THEY ARENT EVER GOING TO WAR?

CONCLUSION: US AND JAPAN ARE PREPARING FOR WAR!!

[Rationalific]

@Elbottoo (and the rest):

You obviously missed the sarcasm. Maybe you should read the comment I responded to.

[00587649]

Yeah,sure. But the US' military spending has been mostly going into Iraq and Afghanistan. That's a terrible way of allocating money (or foreign debt,I should say).

[sharinganclan213]

china doesnt need militar power to win a war. all it needs is hackers and loyal people living in teh US to leak secret to the Chinese government.

[petergriffen222002]

Yes because we know all the chinese immigrants here in the US are giving secrets that even the native people don't bravo idiot.

[sharinganclan213]

a short while ago a 70-something year old man gave secret info from the boeing to the chinese government. thats just one guy that was caught, do you honestly believe that there arent poeple who would gve out info?

[KingDrudge]

Yeah, an economic war. Why do think Gold above $1,000 and ounce. America had cash for clunkers.....the Chinese have greenbacks for gold & silver.

[fluffythecat2]

@poweroftheglory

Glad to see someone who perceives the China reality.

China already owns so much in the USA that people should be studying Mandarin.